Coronavirus hits tourism stocks again
The S&P/NZX 50 Index declined 122.03 points, or 1 percent, to 11,685.11. Within the index, 35 stocks fell, 10 rose, and five were unchanged. Turnover was $117.8 million, with trading bouncing back as investors returned from holidays.
Grant Davies, an investment adviser at Hamilton Hindin Greene, said the NZX was following a negative lead from global markets as fears surrounding coronavirus escalate.
“When global markets get the jitters, New Zealand is never going to be immune to that,” he said.
“It is not a reflection on the companies per se, but it’s more a reflection on global growth expectations being pared back as investors try to account for the risk of a slowdown.”
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
